3,347 Alphabet Inc. $GOOGL Shares Purchased by OceanIQ Capital LLC

OceanIQ Capital LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 18.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 21,473 shares of the information services provider’s stock after acquiring an additional 3,347 shares during the period. Alphabet makes up about 3.8% of OceanIQ Capital LLC’s portfolio, making the stock its 5th largest holding. OceanIQ Capital LLC’s holdings in Alphabet were worth $7,597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position in shares of Alphabet by 5.6% during the second quarter. State Street Corp now owns 238,977,259 shares of the information services provider’s stock worth $85,403,303,000 after purchasing an additional 12,718,127 shares in the last quarter. Amundi lifted its holdings in shares of Alphabet by 4.6% during the 2nd quarter. Amundi now owns 33,203,350 shares of the information services provider’s stock valued at $11,865,809,000 after purchasing an additional 1,457,371 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Alphabet by 10.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,724,321 shares of the information services provider’s stock valued at $6,334,186,000 after purchasing an additional 1,631,721 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Alphabet by 7.1% during the 1st quarter. Swiss National Bank now owns 17,079,800 shares of the information services provider’s stock valued at $4,911,467,000 after purchasing an additional 1,139,400 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Alphabet by 90.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider’s stock worth $4,900,078,000 after buying an additional 8,112,680 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares in the company, valued at approximately $6,494,424.20. The trade was a 0.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total transaction of $149,606.80. Following the sale, the chief accounting officer owned 27,386 shares of the company’s stock, valued at approximately $9,125,015.20. The trade was a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 315,765 shares of company stock valued at $6,297,980 over the last quarter. 11.61% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $324.22 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The stock has a 50-day moving average of $343.31 and a two-hundred day moving average of $353.04. The stock has a market cap of $3.97 trillion, a P/E ratio of 16.28, a P/E/G ratio of 0.97 and a beta of 1.21. Alphabet Inc. has a one year low of $251.85 and a one year high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. The business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. As a group, research analysts predict that Alphabet Inc. will post 20.60 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $425.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Truist Financial set a $420.00 price target on Alphabet and gave the stock a “buy” rating in a report on Thursday, July 23rd. Zacks Research downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Morgan Stanley set a $400.00 price objective on shares of Alphabet and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $417.00 price objective (up from $411.00) on shares of Alphabet in a research report on Tuesday, October 6th. Five analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $425.04.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud and AI demand remain key bullish factors. Coverage highlights accelerating Google Cloud growth, expanding demand for AI infrastructure, and Alphabet’s Gemini models and in-house chips as potential drivers of future revenue and margins. OpenAI’s decision to make its models available through Google Cloud could also increase enterprise cloud usage. OpenAI to bring AI models to Google’s cloud
• Positive Sentiment: Some analysts see substantial upside. Bullish commentary points to strong search and cloud fundamentals, a lower valuation than many large technology peers, and potential upside if Alphabet demonstrates that AI spending is translating into durable growth. TikTok’s reported shift of advertising toward YouTube may provide an additional, though smaller, benefit. Alphabet could still have room to run
• Positive Sentiment: Citizens JMP maintained an outperform rating. The firm lowered its price target from $515 to $450, but the revised target still implies considerable potential appreciation from current levels. Banking giant cuts Google stock price target

Alphabet Profile

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.